Ghada Ismail

If you have a new product or service that you want to roll out and create a big buzz around that lasts for quite a long time, you have to consider preparing an impactful marketing strategy that makes your product stand out among competitors. A strategy acts as your own roadmap that navigates your road trip and gets you to achieve your business objectives. 

Why do you need a creative marketing strategy?

You need to communicate with your audience in a way that creates a bond between both of you and thus build the customer loyalty, a unique identity through which you can pass your messages that makes a client mentally and emotionally attached to a certain business, that emotional connection can really transform the occasional buyer into a loyal brand advocate and this is what we call in business a brand retention. 

Moreover, a marketing strategy shall create an invisible podium for you to speak up to your audience in our digital era where smartphones prevail within almost everybody’s reach for being easier to access, more convenient to hold anywhere bringing exposure to hundreds, if not thousands, of ads and other media. 

Having a creative strategy in mind can let you be exposed to a wide range of opportunities that may have otherwise gone unnoticed. This allows you to maximize the potential for success and make the most out of every situation. 

Additionally, your creative strategy makes you fully aware of both internal and external factors that can lead the way to the success of your project or campaign. By understanding these factors, you can leverage them for your own good, making sure your efforts are put in the right place.

How to create your own strategy?

It’s crucial that you break down the whole process into steps so that you ensure that each step effectively contributes to the final product that aligns with your long-term vision. 

• Set your business goals: before thinking of crafting a marketing strategy, it’s a key step to identify with your business goals as an outline to tailor your strategy in its guidance. By means of brainstorming with all the involved parties, you can make sure that your strategy perfectly aligns with your business goals and objectives.
• Define target audience: when you define whom you are targeting, you are already halfway down. Every audience segment, based on social class, age group, or background has its own targeting as you cannot address teenagers the way you do for grownups and the same goes for different social classes. The moment you have defined your audience, you can go beyond superficial demographics and dive into their interests, needs, and preferences and this makes you truly able to speak to them.
• Be aware of your position in the market: it’s crucial that you conduct a situational analysis that shows you where do your business stands and what are your strength points that you have to elaborate and the weakness points that you have to work on. Upon doing this, you can stand on the elements that should be covered in your marketing strategy.
• Create your message and choose the perfect channels to transmit it: now it’s time to formulate the message you want to deliver to your audience based on all the aforementioned factors and choose the perfect channel where this message can be transmitted and be welcomed and well-received by the target audience whether on TV, Radio, website, or means of social media. 
• Put a clear timeline and budget: whenever you’re ready with your perfectly customized strategy, it’s time now to schedule each and every step to fall in place in the right time and within the planned budget, as you don’t want to fall into the trap of over-budgeting. It’s crucial to allocate a particular budget to each item and stick to it as much as possible, so that you can achieve the utmost profit out of it. 

Now that we have all come to realize that crafting a creative strategy isn’t just about thinking outside the box; it’s about redefining the box itself depending on the business needs, as each business has its very unique characteristics, we can safely say that it is a dynamic blend of insight, innovation, and execution that propels brands to not just exist in the market but to thrive and resonate with their audience. 

Noha Gad

Time is one of the most valuable resources for startups in this fast-paced world. Effective time management is pivotal to achieving success and maintaining a competitive edge. This skill not only helps in meeting deadlines but also ensures that every hour spent contributes toward your business goals.

On the other hand, productivity measures how efficiently you use your time to produce desired outcomes; it’s about maximizing your output while minimizing wasted effort.

When combined, time management and productivity can significantly boost your startup’s performance, leading to better results, higher efficiency, and reduced stress.

The role of time management in your startup’s growth 

Effective time management is a crucial factor that can determine the success or failure of your startup. This helpful skill allows startup teams to:

1. Enhance efficiency. Efficient time management helps teams streamline processes and maximize productivity by prioritizing tasks and focusing on high-impact activities. It also helps teams to define priorities and concentrate efforts on tasks that drive growth.
2. Reduce stress and burnout. Establishing your startup is inherently stressful with long hours and high stakes. Time management can mitigate this stress by creating a structured approach to workload management, organizing tasks, and setting achievable deadlines.
3. Enhance decision-making. Along with planning and scheduling, time management includes evaluating how time is spent. Startups can make informed decisions about resource allocation and strategic direction by regularly assessing where time is being allocated.
4. Accelerate goal achievement. Clear time management enables startups to set and track their goals more effectively by breaking down larger objectives into manageable tasks and setting deadlines. This outlined approach ensures that progress is monitored and adjustments are made as needed to stay on track.
5. Manage growth and scalability. Effective time management practices build a robust foundation for scaling operations. Implementing efficient processes and maintaining organized workflows empower startups to handle increased demands, adapt to growth, and ensure that expansion efforts are executed smoothly.

Common Challenges

Startups may face time management challenges due to their dynamic environments and the need to achieve a lot with limited resources. These challenges include prioritizing tasks, over-commitment, lack of processes, communication issues, and more.

To address such challenges, startups must develop strong time management strategies, such as setting clear priorities, delegating tasks effectively, and creating efficient workflows. 

Here are some practical strategies to address time management challenges:

1. Time blocking. Allocate specific blocks of time for different types of work, such as meetings and administrative tasks, to ensure balanced time distribution.
2. Delegation. Delegate tasks to team members based on their expertise to ensure tasks are accomplished efficiently.
3. Clear goals. Set short-term and long-term goals to focus. Break down larger projects into smaller, manageable tasks with clear deadlines.
4. Avoid multitasking. Focus on one task at a time to improve efficiency and reduce errors.
5. Effective meeting management. Schedule meetings only when necessary and keep them focused and time-bound.
6. Time Audits. Conduct regular time audits to identify where time is being spent and find opportunities for improvement.
7. Work-life balance. Promoting a healthy work-life balance prevents burnout and maintains productivity.

Noha Gad

Companies raise funds to fuel their growth and operational needs in this dynamic business realm. Some seek funds to tap into new markets, develop new products, increase production capacity, and maintain day-to-day operations, while others utilize the funds to refinance existing debt, reduce overall debt burdens, and manage cash flow. Fundraising could also be crucial for strategic acquisitions and mergers, technological upgrades, fulfilling regulatory requirements, and crisis management.

There are different methods of raising funds, including equity financing, debt financing, convertible securities, venture capital, private equity, and initial public offerings (IPOs). Choosing the best method depends on the company’s needs and market conditions.

What is a pre-IPO funding round?

Companies at late stages often raise funds prior to an IPO which is planned in the short or medium term (usually within 6 to 18 months).

Through this round, companies raise additional capital from private investors, such as venture capitalists, private equity firms, and institutional investors, at a valuation typically lower than the expected IPO price. 

It enables investors to buy shares at a discounted rate before the company's stock becomes available to the general public.

Differences between pre-IPO funding and other funding rounds

Unlike most funding rounds, which aim to attract investors, the pre-IPO round is the point where many founders look to exit, as they will earn a sizable amount of money from the business that they built from the roots. In most cases, founders prefer to hand a listed company over to an experienced CEO to manage going forward. 

How does pre-IPO fundraising work?

The process of raising a pre-IPO funding round includes several steps. Decision-making is the initial step where the company’s leadership decides to raise the funding round to solidify the company’s financial position and prepare for an IPO. Then, the company engages the financial advisors and underwriters to guide it through the process and ensure compliance with regulations.

The second step is valuation and pricing. It is a critical step in determining the company's valuation, which influences the share price offered to pre-IPO investors. Thereafter, the company and potential investors negotiate the terms, including the price per share and the amount of equity to be issued.

Further, the company identifies targeted investors for the funding round and presents its growth prospects, financial performance, and strategic plans to potential investors to attract their interest and investment.

Investors conduct thorough due diligence, evaluating the company's financial health, market position, management team, and growth potential, while the company prepares comprehensive documentation, including financial statements, business plans, and legal records, to facilitate this process.

Risks and Challenges of pre-IPO Funding

Although pre-IPO fundraising offers significant benefits, it comes with considerable risks such as market conditions and valuation uncertainty, dilution of existing shareholders, regulatory and compliance issues, uncertainty of IPO success, and other operational and financial risks.

Moreover, industry-specific issues, such as regulatory changes or technological disruptions, can pose additional risks to pre-IPO companies, in addition to broader economic downturns or geopolitical instability.

Shaimaa Ibrahim 

Supply chains have recently been developed using new technologies like blockchain, artificial intelligence, and enterprise resource planning systems. In addition to improving economic efficiency, these technologies enable quicker reactions to shifts in supply and demand in international marketplaces.

Immensa is among the suppliers of cutting-edge technical solutions that, via offering practical and long-lasting solutions, help to alter the structure and practices of the Gulf region's spare parts supply chain. The company makes use of 3D printing and artificial intelligence.

By enabling companies to flexibly alter and manufacture spare parts for their equipment instead of depending on huge manufacturing operations from industrial corporations situated in South Asia, Immensa hopes to profit on the current gap in the spare parts supply chain in the energy sector.

In this regard, Sharikat Mubasher interviewed Fahmi Al Shawwa, CEO and Co-founder of Immensa, to discuss the company's services, its objectives for 2024, its future plans, and its anticipated investments in the Kingdom and the Gulf area.

How could your services contribute to bridging the gap in the spare parts supply chain in the energy sector in the Gulf region?

Immensa’s pioneering additive manufacturing and digital inventory solutions are revolutionizing the energy spare parts market which has remained unchanged for nearly half a century.

By transforming physical warehouses into virtual ones, we enable on-demand production of spare parts. This innovative model is excellent for the energy sector. Companies benefit from secure supply chains, shorter lead times, and reduced inventory costs. This allows them to minimize unnecessary annual losses (which total c. $30 billion annually) and ensure rapid, reliable, on-demand delivery of critical components.

Immensa’s advanced manufacturing techniques, coupled with its ai empowered platform, facilitates digitization and localization of production - directly addressing inefficiencies and challenges of traditional supply chains.

How are AI techniques used in spare parts manufacturing processes, and how does this contribute to reducing costs?

We utilize AI-powered assessment to digitize and manage spare parts inventories via our platform - Immensa360. 

The platform ensures data security, quality control, and efficient workflow lifecycle management of digital assets. By leveraging AI, we can rapidly assess and produce parts on demand, significantly reducing lead times and the cost of maintaining large physical inventories. 

Predictive analytics also allows us to forecast demand accurately - ensuring efficient streamlined production and spare parts supply. This minimizes wastage and optimizes cash flow for energy companies.

At Immensa, AI techniques are integral for adopting digital supply chains. Our AI-powered Inventory Assessment includes both technical and commercial evaluations. AI assesses whether parts are suitable for on-demand manufacturing based on materials, criticality, applications, lead time, production costs, and demand. This comprehensive assessment ensures only the most viable parts are produced, reducing unnecessary inventory and storage costs, optimizing production efficiency, and ultimately lowering overall costs.

How could the SAR 75 million investment secured in a “Series B” round contribute to boosting your business?

The SAR 75 million ($20 million) raised in our Series B round will significantly enhance our growth and expansion strategies.

The proceeds will help us scale our digital warehousing solutions, advance development of our AI-enabled platform Immensa360, and expand into new markets. It will also strengthen our efforts to secure high-profile partnerships and achieve essential certifications, such as our DNV Certification for additive manufacturing of metallic parts. 

These initiatives all contribute to us maintaining our leading innovation role in the energy sector and delivering cutting-edge solutions.

What about seed rounds in 2024?

As we completed a Series B round in November, we do not have any seed rounds planned in 2024. 

We have an excellent, blue-chip investor base – including esteemed names such as Global Ventures, Energy Capital Group, and Endeavor Catalyst Fund - which positions us well for future funding rounds.

What are the promising investment opportunities in the energy spare parts market in the Gulf region, especially in the Saudi market?

The Gulf region, particularly Saudi Arabia, presents substantial opportunities in the energy spare parts market, driven by an increasing focus on sustainability and efficiency. With the global market valued at >$91 billion and the Middle East comprising 35%, the potential is significant. 

Our digital warehousing and additive manufacturing solutions will capitalize on growing demand, offering innovative and efficient production methods. Partnerships with Saudi entities such as NIDLIP and KACST are also enhancing our local presence and capabilities. 

Localizing spare parts production not only meets the region's specific needs but boosts the local economy too, making the market attractive to investors.

What are the company’s future plans and expected investments in Saudi Arabia and the Gulf region?

Our regional expansion will continue – including further investment in the Kingdom of Saudi Arabia, the UAE, Kuwait, Oman, Bahrain, Qatar, and other international markets.

In Saudi Arabia, we have signed recent MOUs with NIDLIP and KACST, aligning with our strategy to establish state-of-the-art additive manufacturing centers. 

Our future plans include expanding our capabilities, opening additional facilities, advancing R&D, and striking strategic alliances to enhance our service offerings and market reach. We are committed to strengthening the local manufacturing sector, supporting the Kingdom's Vision 2030 objectives, and meeting the growing demand for efficient and cost-effective spare parts solutions. 

Does Immensa plan to enter new markets outside the region?

While our primary focus is expanding in MENA, Immensa is currently serving a number of international organizations and thus is actively exploring opportunities to expand its presence in new international markets.

Our scalable technology and expertise position us ideally to meet global energy sector demand. Strategic collaborations - such as our recent partnership with Pelagus 3D for the maritime and offshore industry - show our ambition to diversify and extend the reach of our digital manufacturing and inventory solutions to other sectors and regions. 

In your opinion, what are the challenges facing the Gulf energy spare parts market?

The market has several challenges. Legacy systems struggle to meet the sector's dynamic needs efficiently. An over-reliance on outdated supply chain models leaves some companies susceptible to disruptions; high inventory costs; an over-dependence on imports; and long lead times in parts procurement.

The market has been slow to adopt digital and additive manufacturing technologies, but we are now at an exciting tipping point as companies realize how they can optimize supply chains and reduce operational inefficiencies. 

But to do this requires innovative solutions, such as our digital warehousing and on-demand production capabilities. We can ensure rapid delivery of high-quality spare parts, boost localized manufacturing, and reduce reliance on external suppliers – thus enhancing the resilience and efficiency of the overall supply chain.

The eco-system to support a digital supply chain and additive manufacturing was non-existent until recently, and that has been one of the top challenges in the adoption by companies. Today, although still nascent, we are seeing the clusters and eco-systems quickly develop as demand for localization and on-demand manufacturing rapidly increases. 

How will the digitization of warehouses and flexible supply chains contribute to supporting Gulf companies?

Digitizing warehouses and implementing flexible supply chains has various upsides for Gulf companies: reduced lead times, lower inventory costs, and enhanced supply chain security. 

Immensa’s virtual warehousing model allows real-time inventory management – allowing hugely reduced storage costs and minimizing the risk of part obsolescence. On-demand production minimizes the need for large physical inventories, freeing up capital and making essential parts immediately available.

Overall operational efficiency increases, so companies can be more rapidly responsive. More localized production contributes to local economies too – aligning with national strategies for technology advancement and sustainability.

By revolutionizing spare parts supply chains, we empower Gulf companies to operate more efficiently and cost-effectively, driving competitiveness in the energy sector.

Shaimaa Ibrahim 

The fast-paced development of the fintech industry and digital platforms induced a prodigious leap in digital payment methods and increased demand for digital payments. Driven by attracting billions of investments around the world, some fintech solutions shifted the focus to providing new payment methods by creating fast, simple, and affordable payment tools and providing new competitive solutions that facilitate financial transactions. 

Digital payments are kind of financial transactions that are done through digital modes, enabling individuals and companies to electronically transfer money easily and swiftly compared to traditional methods.

Companies and organizations of different sizes currently prefer to use e-payments thanks to their various advantages and features. Also, most companies started digitalizing their payments to keep pace with the fast-growing digital landscape.

Here are three main reasons you need to digitalize your company’s payments

1. Accelerate and facilitate financial transactions. E-payments facilitate financial transactions and mitigate transfer mistakes, compared to traditional payment methods. Additionally, they offer you swift and seamless financial transactions.
2. Boost sales and enhance customer experience. E-payments provide a wide range of payment options that enable customers to make transactions anytime anywhere, saving their time and effort. This will enhance your company’s revenues and ensure an easy online payment for your customers.
3. Reduce cost and guarantee secured transactions. E-payments play a pivotal role in facilitating financial transactions for companies, raising their efficiency, and reducing operational costs, thereby limiting the company’s need for hiring more employees to manage sales and payments. In most cases, e-payments charge zero or limited fees which accordingly saves your company’s money in the long term. Additionally, e-payments adopt high-security measures, such as encoding and encryption, to prevent fraud.

Digital payments are done via several tools, notably:

1. Bank cards. This includes credit and debit cards as well as e-payment cards that are issued by banks for online payments and purchases.
2.  Digital wallets. This tool securely stores virtual versions of debit and credit cards. Users can link their bank accounts to their wallets easily via mobile.
3. E-payment platforms are one of the key digital payment tools that play a crucial role in boosting e-commerce. They serve as digital banks that provide secure and easy online payments and transfers.
4. Electronic check (e-Checks). E-checks are checks that are written and processed electronically. This means transferring funds from the payer’s account to the payee’s account through an electronic network instead of a physical check.
5. Bank gateways. Financial transactions and transfers are made using facilities provided by banks through their online websites.

At last, digital payments revolutionized the way financial transactions are made, acting as a fundamental tool to facilitate commercial transactions in line with the increased demand for innovative tech solutions and the surge in digital payment activities.

Translation: Noha Gad

Mohamed Gamal

Negotiation skills are the cornerstone for building robust relations with prospects and concluding a lucrative deal in the business realm. Whether you are an entrepreneur or a seasoned businessman, mastering the art of negotiation provides satisfying outcomes for all parties.

Here are some tips to master negotiation skills and get win-win deals:

1. Prepare well. Before starting any negotiation, you must understand the prospect very well by exploring its products, services, and specific needs, identifying its competitors in the market, and determining its strengths and weaknesses.
2. Build trust and rapport. Build positive relations with the prospects by listening carefully to their needs and the challenges facing them, showing deep interest in finding effective solutions for all parties. Be clear about your requirements and expectations.
3. Focus on mutual interests. Pinpoint where your needs and your prospect’s needs converge then find solutions that suit your mutual needs. Make prospects feel they are involved in finding solutions.
4. Close the deal professionally. Once you reach a satisfying deal, provide a written offer detailing the terms of the agreement. Make sure to review the offer with the prospect before signing it and affirm your commitment to fulfilling your duties on time.

Best techniques to close a deal successfully

1. Unique offer close. Create a special offer exclusive to prospects to incentivize and convince them to accept the offer before it is way too late. Hence, prospects will make prompt decisions to close the deal.
2. Constructive and encouraging interaction. Encourage prospects to close the deal by listening carefully to their needs and problems to provide suitable solutions.
3. Understand prospects’ needs. Focus on fulfilling prospects’ needs effectively by providing tailored solutions. The more you ask propping questions, the more you get additional information and pinpoint problems.
4. Soft Closes. The soft close lets you show the benefit of your product to prospects, highlighting its unique features and how it can positively impact their business or personal life.
5. Get ready for a successful close. Prepare all resources that may convince prospects of your product, i.e., studies and customer recommendations, in addition to reviewing and analyzing used strategies and showcasing future improvements.

Closing win-win deals is a process that requires expertise and trust as well as using the right expressions, adding value, and building prospects’ confidence. Thus, is it pivotal to show your prospects that you are a professional who can conclude a win-win deal with them.

Translation: Noha Gad

Kholoud Hussein 

Fintech solutions companies mainly focus on creating future financial services and helping financial players build truly digital products, with faster experiments and in connection to the fintech ecosystem.

ABHI comes at the forefront of the embedded finance revolution providing a comprehensive suite of solutions including Earned Wage Access, Payroll Solutions, and SME Financing. The fintech company has established partnerships with over 450 companies driving economic growth and creating lasting social impact.

In this regard, Sharikat Mubasher interviewed Omair Ansari, CEO and Co-founder of ABHI, to talk about the company’s services, 2024 goals, objectives, and expansion plan across the GCC. 

What are the key services provided by ABHI in the Saudi market? And what makes it different compared to its peers in the market? 

Over the last decade, the Kingdom of Saudi Arabia (KSA) has significantly advanced in developing fintech into a flourishing industry marked by rapid growth and diversifying services.

In the Saudi market, we focus on providing two key services: Earned Wage Access and SME working capital financing. Our USP is that we settle everything from salary to payments instantly. We bridge the gaps between our users and their earned income. Our Earned Wage Access solution allows workers to access their earned wages anytime, without waiting for payday. SME working capital financing is an instant credit solution for businesses with low or no access to formal credit, looking to solve their cash flow crunches. 

We differentiate ourselves from our market peers by focusing on instant settlement, advanced technological integration, and a customer-centric approach. All this combined with strategic partnerships and a deep understanding of local insights from Alreadah sets us apart in the Saudi fintech market.

What are the company’s main goals for 2024? 

In 2024, we aim to consolidate our presence in the markets we serve while expanding into new territories, particularly focusing on enhancing our footprint in the MENA region. This expansion includes a strategic focus on penetrating the Saudi market, where we are actively seeking strategic partnerships with local banks, financial institutions, and employers.

We are continuously working on enhancing our platform to provide a seamless user experience and additional features that cater to the specific needs and preferences of the region. This may include incorporating local payment methods and language.
 

We are excited about the potential opportunities in this market and are committed to making embedded finance more accessible and beneficial for businesses and employees across different countries.

Who are ABHI’s top clients in the meantime? And who are your targeted clients in the future? 

Currently, ABHI is serving a client base of over 1,000 esteemed companies, including industry giants like Unilever, EdenRed, Baskin Robbins, Martin Dow and more. These partnerships strengthen ABHI's reputation as a trusted provider of innovative financial solutions, with a track record of delivering impactful services to a diverse range of clients across various sectors.

Looking ahead, we are excited to expand our client base further by targeting a broad spectrum of businesses, ranging from multinational corporations (MNCs) to small and medium enterprises (SMEs). Our goal is to make credit accessible for all, further solidifying our commitment to innovation and customer-centric solutions.

Being based in Saudi Arabia, what is the company’s expansion plan over the coming period? 

We have recently expanded into Saudi Arabia, marking our entry into the GCC region. We actively seek partnerships with local banks, financial institutions, and employers across the GCC to leverage their expertise, local networks, and resources, facilitating faster regional growth.

Saudi Arabia has recently witnessed a growing preference for digital payments over cash. As several cities in KSA have emerged as fintech hubs, we plan to expand our geographic reach within KSA, targeting key cities with a growing demand for fintech solutions.

Additionally, we aspire to leverage the Saudi market to explore opportunities for expansion into neighboring regions. This includes collaborations that enable us to introduce our innovative fintech solutions to new markets while also contributing to the economic development of those regions.

We are committed to making credit more accessible and beneficial for businesses and employees across various countries. To enhance our platforms, we are focusing on providing a seamless user experience by incorporating region-specific features such as local payment methods and language localization.

What are the challenges facing fintech companies operating in Saudi Arabia? And what are the company’s steps to get over these challenges? 

As we haven’t started fully operating in the country as of yet, we cannot comment on the challenges, but what I can say is that the country has been super welcoming and Alraedah has been super supportive for us to bring our tech to launch here.

How do the company’s objectives align with the kingdom’s Vision 2030? 

Our services, such as Earned Wage Access and SME working capital financing, are instrumental in enabling individuals and businesses, particularly those in underserved communities, to fully participate in the financial system. By facilitating greater economic participation and inclusion, we contribute to KSA Vision 2030's overarching goals for a prosperous and inclusive society.

Through our innovative financial solutions, we are excited to empower Saudi citizens, strengthen the private sector, and cultivate a more vibrant, thriving economy. For example, our Earned Wage Access service provides employees with access to their earned wages before the traditional payday, helping to alleviate financial stress. Similarly, our SME working capital financing solution enables businesses to access working capital quickly and grow and expand their operations.

By addressing key financial challenges and promoting accessibility to financial services, we are actively supporting Vision 2030's objectives for economic diversification, financial inclusion, and technological advancement.

Tell us about the company’s latest deal with Alraedah. And how does it boost ABHI’s presence in the Saudi market? 

We have recently partnered with Alraedah Digital Solutions to expand our operations in the Saudi market. This collaboration provides us with regulatory cover, local expertise and $200 million funding which will be deployed over three years.

By utilizing Alraedah's local expertise and market knowledge alongside our innovative financial solutions, we are well-equipped to make a meaningful impact on Saudi Arabia's financial landscape.

Also, the partnership opens new avenues of growth for us in the Saudi market, providing opportunities for us to tap into emerging sectors. As we continue to deepen our presence, we're committed to delivering solutions that drive innovation and contribute positively to the region's financial sector.

How about the recent deal signed with Mastercard? How does it support the company’s expansion plan? 

Our collaboration with Mastercard supports ABHI's expansion plan by enhancing our product offerings and extending our market reach. By introducing Mastercard-powered Salary Advance Cards, we can attract a wider customer base and provide added value to our users.

Integrating Mastercard's advanced technology and extensive global payments network strengthens ABHI's position in the fintech sector, allowing us to offer secure and efficient financial solutions to our users for cross-border payments. The global acceptance of Mastercard ensures that our users can make seamless local and international transactions, increasing the accessibility of both domestic and international online payments for our Earned Wage Access (EWA) users.

Kholoud Hussein

An online marketplace, also called a “digital platform” or “intermediary,” acts as an agent or a facilitator of transactions where the suppliers allow the electronic marketplace to market and sell their goods or services.

The online marketplace is not clearly defined and is a concept that is likely to evolve. According to the OECD, two-thirds of all cross-border e-commerce sales of goods are made through online marketplaces. With the exponential growth of e-commerce in the GCC during the pandemic, online marketplaces have become a widely used sales channel for many businesses in the GCC.

Delving deeply into this point, Sharikat Mubasher had an exclusive interview with Tarek Sakr, CEO of 4Sale, Kuwait’s leading online classifieds platform, discussing the company’s business and services to the clients, in addition to the company’s biggest achievement in 2023, and its future investments across the GCC. 

What are the services provided by 4Sale? And how many clients are served by the platform? 

4Sale is the largest online classifieds platform in Kuwait – with over one million active users buying and selling goods and services. It is a continually growing community of mutual interests; since its inception, 4Sale has helped over two million registered users list over 12 million items and services, with over six million devices having downloaded the company’s app or registered on 4Sale’s website. Currently, we have 197 categories on our platform. 

This ensures we have (i) plenty of room to grow and (ii) can fully react to customer demand for individual verticals. Being Kuwait’s most popular and trusted online classified platform comes with the responsibility of being who customers automatically turn to when needing a forum to buy or sell. 

We ‘listen’ to what the data from our long list of transactions tells us, and work to meet anticipated customer demand – even before they go online.

What are the objectives of the 4Sale platform? 

Our core goal is to satisfy our customers’ needs for an easy-to-access, easy-to-use trading platform. Every objective springs from this mission. 

Our strategy is to create more verticals, become closer to the transactions, and provide more added value. The combination of these strategic tools will take 4Sale to another level. 

The closer we are to transactions – the more we are answering customer demand. By constantly seeking to value-add, the more the customer experience improves. We simplify and improve customers’ lives - by helping them obtain or sell items they need or no longer want.

What makes the 4Sale platform unique compared to its peers in the market? 

4Sale has a unique offering to consumers - evidenced by our scale and growth in customers. No other comparable platform in Kuwait does what we do, to our scale, professionalism, liquidity of users, and ease of use.

What are the company’s achievements in 2023? And what are the company’s goals for 2024? 

2023 was a terrific year for 4Sale, and likewise our customers. Our Consumer Division – our primary business sector – saw its revenues rise 11% with increased activities across all 197 product categories. 

The stellar performance of our household sector highlighted the consumer trend of trading more online - as opposed to physically and in cash. Last year, over 90% of 4Sale’s transactions were online – up from 65% in 2019. 

An example of our extended offerings, and delivery of an immersive digital experience, was our launch of 4Sale Realty – an immersive experience listing property rentals. This was an immediate success and is registering exponential growth. We expect this vertical to be a major business division by the end of this year.

In 2024, we have been refining and enhancing our search facilities and introduced a major strategic initiative of providing hyper-personalized recommendations to customers for products and services. This strengthens our ability to optimize marketing for seasonal holidays and significant commercial events such as Black Friday, and Mother’s Day and gift-giving such as anniversaries.

We know, because we listen to the data, that today’s customers want (i) very specific, tailored interactions (ii) to be properly understood and (iii) to have simple and smooth access to purchases. By optimizing our methods via data collection, we can provide timely and relevant recommendations, delivering a more personal and enjoyable customer experience. 

As our rapid growth continues, we will upscale our entire infrastructure, inline with our 2025 objective of reaching two million monthly active users, across more verticals. This would constitute an impressive market share in a country of only five million people – but our infrastructure will be ready for it.

Being based in Kuwait, does the company plan to expand its footprint into other GCC countries? 

Currently, we are more interested in getting closer to customers and their transactions by offering more value-added services – which will give them a greater experience, build customer loyalty, and deliver greater profitability.

Within 12-18 months, 4Sale will likely to be close to two million active users in Kuwait. Then we can consider how we may replicate that success in similar markets. One thing is for certain, we have ambitions - and being online allows us to expand and grow far more easily than if we required bricks and mortar and an additional supply chain behind it. 

Expanding in the Gulf or MENA will only be considered from a position of strength and success. We must first use this year to build upon our significant achievements to date.

What is the company’s source of profits? 

Profits are a key measure of our success. They show if we are delivering what our customers want, be it buying, selling, leasing, or renting. We naturally take a commission for transactions, and that is a fair way of being rewarded for providing the infrastructure – the 4Sale platform – that brings our customers together in the virtual marketplace. 

We are proud of how we built that and are constantly improving our platform, and this success is measured in profit growth.

Does the company plan to go for a funding round to expand its business? 

Since its launch, 4Sale funded itself via two methods. Firstly, we took the deliberate decision to use bootstrap funding from our own cash flow. This proved we could be and were profitable from the start. We made this choice to avoid the unpredictability of funding rounds and be free to focus on building a sustainable stand-alone business. We successfully achieved that goal.

Secondly, a strategic majority stake in our business was acquired by the National Bank of Kuwait in 2018 – an important institutional investor in the region. This added much extra credibility, encouraging new customers to try our service, and then come back for more.

Naturally, we are very proud of our achievements. It shows our business model is sustainable and scalable. We have no plans to alter that model.

Is there a plan to expand in Saudi Arabia?

We are always looking for synergies, but as I have said - our first focus must be to be even closer to our customers in Kuwait. From there, we can consider expansion into neighboring markets.

The open nature of online sales means many people in KSA and the wider GCC will know us already and know we can be trusted to deliver.

I am sure there is hope and expectation that we grow into other markets, but initially - and for now - we want to be the best we can be.

Exclusive – Sharikat Mubasher: The Saudi-based intuitive mobile application Kharja aspires to expand its footprint in Saudi Arabia to meet the burgeoning demands of the entertainment sector, in alignment with Vision 2030. To achieve this goal, Kharja plans to raise $500,000 to broaden its operations in the Kingdom.

Sharikat Mubasher interviewed Co-founder Khalid Yagoub to learn more about Kharja’s planned fundraising and discover the application’s advantages and offerings in the Kingdom.

What differentiates Kharja from other local and global social networking applications?

The Kharja application provides an exceptional and seamless experience for managing and simplifying hangout plans in the Kingdom. It allows users to use a shareable link with family members and friends to invite them to join the hangout.

It also suggests places that fit users’ styles based on their preferences, ensuring an excellent and more interactive experience.

What are the advantages of using Kharja in Saudi Arabia?

Kharja application plays a leading role in the Kingdom capitalizing on the increased focus on the entertainment sector within the ambitious Vision 2030. Unlike traditional social networking applications, Khaja specializes in managing and exploring entertainment activities, in addition to providing tailored suggestions and facilitating social gathering activities to enhance users’ experience. Our offerings underpin Kharja’s capabilities and leading role in Saudi Arabia as they strategically align with the national objectives. 

What are Kharja’s profit sources?

We earn profits from several sources, notably monthly and annual subscriptions for commercial businesses. These subscriptions enable businesses to manage their profiles on the application and benefit from the tailored promotional features.

Further, the application adopts a smart bidding system for targeted ads; it generates profits from active ads that reach the target audience at the right time.

What are the recent funding rounds that Kharka recently raised?

In April 2023, we raised $200,000 in a pre-seed round from Flat6Labs.

Do you plan to raise more funding rounds within the upcoming period?  

We plan to complete the pre-seed round to raise our capital. Also, we plan to secure investments of $500,000 to expand our operations, update the application, and broaden our user base by following advanced marketing strategies.

This funding will fuel Kharja’s strategic plans to grow rapidly in the Saudi market.

How does Kharja support tourism in the Kingdom?

Kharja provides tourists with an interactive platform to explore activities and discover different tourist hotspots in the Kingdom; it suggests cultural events, tourist attractions, and entertainment activities that match their interests, and provides recommendations based on users’ preferences to enhance their experience.

Moreover, Kharja contributes to promoting tourism in the Kingdom as it helps tourism agencies reach more customers through targeted ads.

Translation: Noha Gad

Shaimaa Ibrahim 

The short-term rental market in Saudi Arabia has witnessed rapid development throughout the past few years. Silkhaus is a cutting-edge prop-tech startup that aims to revolutionize and develop the short-term rental scene in the kingdom and the Middle East. It provides an integrated set of services that meet the needs of guests and landlords. 

Silkhaus plans to expand its business in the Saudi market in the coming period. Therefore, Sharikat Mubasher had an interview with Sabine El Najjar, VP Commercial & General Manager of Silkhaus Saudi Arabia, to discuss future plans, and share with us her expectations for the future of the short-term rental market in Saudi Arabia, and its leading investment opportunities.

What services does Silkhaus provide to real estate owners to manage their properties, and what distinguishes it from traditional rental methods?

Silkhaus is a cutting-edge proptech startup dedicated to revolutionising short-term rentals across the Middle East. Founded in 2021, Silkhaus equips property owners to monetise their assets as short-term rentals with the opportunity to earn 20-40% more than regular long-term rentals. 

With Silkhaus, once landlords partner with us, we take care of every element, including furnishing, marketing the apartments, securing customers and even maintaining the units. Landlords have access to our advanced landlord portal that gives them full and real time visibility of bookings and earnings. Since our model is extremely flexible, landlords can also choose to book their apartment for their own use and can sell their units vacant on transfer with a minimal notice period, unlike with long term leases.

Today we partner with individual property owners as well institutional investors who own dozens of residential units. All together, our managed asset base exceeds $120 million in value, and we operate in three cities across two markets.

Last January, Silkhaus closed a Pre-Series A round, can you provide us with more

details of this round? How could this investment boost your expansion plans?

The pre-series A round is testament to the fundamentals of our business and the backing we have received from Partners for Growth. With our business growing by more than double in 2023, we chose to not dilute equity, but opted for debt financing instead. This allows us to stay well capitalised while remaining extremely focused on how we want to grow our business. 

In terms of our plans, the round is to fuel our entry into Saudi Arabia. This means we need to invest extensively in developing our technology for the local market, hire the right talent and build a large network of landlords. 

What are Silkhaus’s future expansion plans in the Saudi market?

Saudi Arabia is currently our first expansion outside the UAE. We have spent the last 6 months on regulatory set-up, talent onboarding and landlord discussions. We’ve had a successful lead generation campaign that has attracted interested landlords and investors alike. In fact, we see a large demand for short-term options as the Kingdom faces a shortage of hotels and high-quality accommodation. While KSA is attracting significant investment in the real estate and hospitality sector, it will be some time until that supply becomes available. That is why we are working with landlords to upgrade their properties to give guests a world-class experience. From our soft run, we’ve seen the appetite for Silkhaus properties grow. Right now, we remain focused on on-boarding more landlords and ensuring that we are contributing to the vision of the Kingdom for the hospitality and tourism sector. 

How do you see the future of the short-term rental market in Saudi Arabia, and what

about the investment opportunities in this market?

Globally, the short-term rentals market is worth over $100 billion and in the Middle East, the sector is still in the early stages of growth. For Saudi Arabia, this means there’s a significant opportunity in developing this industry, as well as creating jobs for local talent. 

In 2023, Saudi Arabia saw$74 billion worth of real estate deals completed. A lot of these will be deployed towards managing the shortages faced by visitors. As Saudi Arabia attracts global tourists for business and leisure, and with a number of major events scheduled, including the FIFA World Cup in 2030, we anticipate a major demand for short-term rentals. This will be a key driver in attracting investments into the real estate sector, while also generating strong returns for property owners. From our day-to-day conversations with industry veterans, we’ve also seen an interest from large developers that were historically more traditional to enter this space

In your opinion, how will digital technologies support the short-term rental market in the Gulf region, and Saudi Arabia in particular?

Technology is at the core of what we do, whether you’re a guest or a landlord. For guests, technology is embedded in every part of their journey, from discovery and booking, to check-in using digital locks all the way to our digital concierge service and our in stay strategic partners that are embedded into our offering for a seamless customer experience.

For landlords, Silkhaus leverages technology to provide end-to-end property management solutions for short-term rentals, managing every aspect from bookings to distribution and from operations to the guest experience. With this, landlords do not need to get involved in the day-to-day operations of their properties, but still have complete visibility of its management. 

Our technology powers short-term rentals and has attracted real estate owners ranging from institutional entities with mass holdings to individual retail owners with single apartments.

Shaimaa Ibrahim

Saudi Arabia started 2024 with a bright economy ahead by activating the Regional Headquarters (RHQ) Program which mandates foreign firms to have a regional headquarters in Saudi Arabia to start or expand their businesses in the Kingdom.

The program aims to boost foreign investments in the Kingdom and enhance its non-oil economy, in alignment with Vision 2030’s objectives to diversify the national economy, raise foreign direct investments (FDI) contribution to the gross domestic product (GDP) to 5.7%, and increase the net value of FDI inflows to hit SAR 388 billion annually.

Supervised by the Saudi Ministry of Investment (MISA) and the Royal Commission for Riyadh City, the RHQ Program targets alluring global firms to establish their headquarters in Saudi Arabia, transforming the Kingdom into an attractive investment destination that provides distinctive advantages and services.

Targeted sectors 

Saudi Arabia owns several pull factors for investors and foreign capitals that positioned the Saudi economy as the largest in the Middle East and North Africa (MENA) region and the eighteenth-largest in the world. 

According to the Saudi Minister of Investment Khalid Al-Falih, 180 global firms obtained licenses to establish their headquarters in Riyadh, surpassing the Kingdom’s goal to attract 160 global firms by the end of 2023.

The minister affirmed that this achievement was due to the Kingdom’s stable economy and strategic location, in addition to its unique competencies.

In a related context, the leading business expansion platform in the MENA region AstroLabs successfully accelerated expansions of more than 600 global and regional firms to the Kingdom.

AstroLabs’ CEO Roland Daher affirmed that global firms working in various sectors increasingly aspire to expand in the Saudi market, especially the multinational ones and those achieving annual revenues of more than $1 billion.  

He further noted that the number of firms that expanded their businesses in the Kingdom has doubled in one year.

The RHQ Program targets attracting firms in several sectors, including infrastructure, logistics services, advanced industries, and digital services. The Kingdom also enjoys massive investment opportunities in many sectors notably retail, real estate, tourism and entertainment, event organization, and other professional services, such as banking and tax consultancies

Tax incentives

The Saudi Ministry of Investment (MISA) added a 30-year tax relief incentive package to the RHQ Program, in coordination with the Ministry of Finance and Zakat, Tax, and Customs Authority (ZATCA) to streamline the process for multinational firms establishing their RHQ in Saudi Arabia.

The incentive package includes a 0% rate for corporate income tax (CIT), withholding tax (WHT) on dividend payments from RHQ to its foreign parent entity, WHT for payments to related parties, and WHT for services payments to non-resident unrelated parties necessary to carry out RHQ activities as defined in the tax rules.

Economic impact

The RHQ Program is expected to have a significant economic impact on all sectors as well as the products and major services provided in the Kingdom with local content. This accordingly will enhance the competitiveness of the Saudi market and transform Riyadh into a global business hub and a destination for international economic entities.

Last January, the General Statistics Authority (GASTAT) announced that the total FDI stock in Saudi Arabia recorded SAR 762 billion by the end of 2022, while the FDI inflows into the Kingdom reached SAR 123 billion.

GASTAT also revealed that the Kingdom recorded a significant growth in the net FDI flows in 2022 with net flows amounting to SAR 105 billion.

Furthermore, the total FDI inflows into the Kingdom hit SAR 17 billion during the third quarter (Q3) of 2023, while the net FDI flows touched SAR 11 billion in the same quarter.

According to the CEO of the Royal Commission for Riyadh City Fahd Al-Rasheed, the RHQ Program is forecasted to add around SAR 67 billion (almost $18 billion) to the national economy, in addition to creating 30,000 new jobs by 2030.

It is worth noting that Saudi Arabia plans to attract 480 global firms to establish their regional headquarters in the Kingdom by 2030.

Job opportunities

The RHQ Program will provide numerous jobs for Saudi youth across new sectors, enhancing the Kingdom’s non-oil economy. Additionally, the regional headquarters will bring the best global expertise to the Kingdom, enabling Saudi talents to improve their skills and gain experience.

The Kingdom is also expected to recognize its goals to achieve sustainability and enhance citizens’ quality of life as Riyadh is anticipated to be among the top 10 economies in the world, notably after selecting Saudi Arabia to host Expo 2030 and the 2029 Asian Winter Games. Hosting these mega events will attract more global firms to the Kingdom to participate in such events and will also create several job opportunities.

Green Projects 

The National Investment Strategy and the Saudi Green Initiative target injecting SAR 150 billion to encourage the private sector to invest in green initiatives and projects in Riyadh.

Recently, the Kingdom started using clean energy, green hydrogen, and solar panels as part of its endeavors to become an eco-friendly country, paving the way for global firms to invest in the Kingdom.

Logistics services

Moreover, the RHQ Program will enhance the Kingdom’s position regionally and globally as it will elevate land, maritime, and air transportation, boost airports’ efficiency, and enhance tourism and entertainment sectors. Additionally, the global firms will be able to contribute to the logistics ecosystem through the 12 ports established across the Kingdom. 

Translation: Noha Gad

 Noha Gad 

Saudi Arabia's fintech sector has been rapidly evolving throughout the past few years, backed by the adoption of digital financial services, including mobile payments, online banking, e-wallets, and payment applications. In 2023, the fintech industry was ranked first in Saudi Arabia with funding amounting to $704 million deployed through 30 deals.

Being one of Forbes’ top 50 fintech companies in 2023, PayTabs offers a full stack of avant-garde, user-friendly, and secure payment solutions that revolutionize the payments scene in Saudi Arabia and the region.

With seven BNPL partners across Saudi Arabia, the UAE, and Egypt, the leading fintech company is gearing up to expand its business beyond the MENA region and scale its products in 2024. 

In this regard, Sharikat Mubasher had an exclusive interview with Huda Al Benmoussa, Country President of PayTabs Saudi Arabia, to showcase the company’s innovative offerings and success journey, discuss future plans, and share her insights on the Saudi fintech sector. 

What are the key services provided by PayTabs? and how could your payment solutions contribute to boosting various businesses?

As an entity, PayTabs caters to the entire business lifecycle segments including freelancers, start-ups, SMEs, enterprises, financial institutions, governments, and the connected commerce market. Our commitment to innovation has allowed the company to deliver a range of secure payment services to suit every industry.

No matter if your business is online or physical, PayTabs omnichannel acceptance and issuance solutions cater to multiple business models and add value to the payment ecosystem by helping businesses to build, grow, and scale.

• Payment Gateway Platform: Via our payment gateway, we enable startups, SMEs, and e-commerce businesses to accept multiple payment methods, including credit/debit cards, buy now pay later schemes, SADAD, and digital wallets. This diversity ensures that customers have the flexibility to choose the payment option that best suits their preferences and financial circumstances. Whether they prefer the convenience of digital wallets, the flexibility of installment plans, or the familiarity of traditional cards, PayTabs caters to varied customer needs. This not only saves customers valuable time but also contributes to a positive and efficient purchasing journey, elevating the entire shopping experience.
• Social Commerce Platform: In our efforts to enable more segments to enter the world of mainstream payments, PayTabs' Social Commerce Platform, driven by Paymes, redefines entrepreneurial empowerment. The platform empowers millions of freelancers, artisans, consultants, home-based business owners, personal trainers, and micro vendors to receive instant payments via links and QR codes, in sync with our enthusiastic pursuit of following merchants across their lifecycles to elevate their payment habits. 
• Payment Orchestration Platform: PayTabs' Payment Orchestration Platform is tailored for larger clients managing high transaction volumes. Simplifying operations, seamless deployment with diverse payment methods, and strengthening fraud prevention and data analytics capabilities, the platform elevates customer experiences, drives operational efficiency, enhances entity branding and with its PCI compliant, infrastructure sparks innovation in the payment industry.
• PayTabs Card Issuance: PayTabs presents an all-encompassing Card Issuance Solution. Designed to enhance B2B and B2C transactions, this solution opens doors to possibilities in payments and payouts for different business lines including travel, logistics, and retailers.

Being one of Forbes’ top 30 fintech companies in 2023, can you please share more about the key factors behind this success?

 A couple of factors:

Innovation: PayTabs continually seeks new ways to improve payment processing, enhance security, and adapt to evolving market needs.

Customer-Centric Approach: PayTabs prioritizes its customers' needs by providing user-friendly interfaces, responsive customer support, and customized solutions for businesses in multiple industries.

Strategic Partnerships: We have signed significant collaborations and partnerships within the fintech industry. These alliances enable PayTabs to expand its reach, offer more comprehensive services, and stay ahead of the game.

Commitment to Security: PayTabs prioritizes data security and compliance with PCI standards to ensure customer trust and reliability. All PayTabs transactions are 3D secure ready.

Employee Expertise: The company's employees contribute to its success through their expertise, dedication, and commitment to driving innovation. The company is an equal opportunities employer with a diverse and multi-cultural team comprising of over 20 nationalities.

PayTabs has a solid presence in the GCC and other countries such as Egypt. Do you plan to expand into new markets? and what are PayTabs’ plans for 2024?

While the exact nature of our plans cannot be revealed at this juncture, when it comes to expansion, we will expand our payments business vertically and horizontally.

In 2024, we will also see product expansion – for example introducing our social commerce platform Paymes to the Levant region and market expansion – introducing PayTabs payments in more North African markets.

In November, PayTabs announced a partnership with Tabby to offer its clients with BNPL services. Do you plan to enter into further partnerships in the near future?

Absolutely. We currently have over 7 BNPL partners across KSA, UAE & Egypt and more partnerships are on the cards. In our dynamic digital we're not just a payment solutions provider; we empower businesses with a comprehensive suite of services. By integrating BNPL options, we unlock opportunities for them to tap into a broader customer base and elevate their average transaction values. PayTabs is transforming the merchant-customer dynamic by enabling convenient purchases of everyday, premium, and luxury products. Our merchants stand to gain significantly as they offer customers flexible payment choices, making every transaction a delightful buying experience. 

Does PayTabs plan to raise further funding rounds, following its Series B round in 2017?

Our corporate strategies, including fundraising plans, continue to evolve over time and will be announced accordingly.

How do you evaluate the fintech ecosystem in the GCC region, and Saudi Arabia in particular?

The fintech ecosystem in the GCC region, including Saudi Arabia, has been experiencing significant growth and transformation. Several factors contribute to this positive trend:

Government Support: Governments in the region, including Saudi Arabia, have shown a commitment to fostering innovation in the financial sector. Regulatory sandboxes and initiatives to encourage fintech startups have been introduced.

Digital Transformation: The region has witnessed a broader digital transformation across industries. This digital shift creates an environment conducive to fintech innovation.

Youthful Population: The GCC region has a large, tech-savvy, and youthful population. This demographic is more inclined to adopt digital financial services, providing a ready market for fintech solutions.

Strategic Partnerships: Fintech companies in the GCC often form strategic partnerships with traditional financial institutions, facilitating collaboration and the integration of new technologies into existing financial systems.

In your opinion, how do you see the future of the Saudi fintech sector? and what does it need to boom more?

The future of the fintech sector in Saudi Arabia holds promise, driven by the increasing adoption of digital payments and contactless transactions in line with global cashless trends. A supportive regulatory environment, efforts to enhance frameworks, and a focus on financial inclusion are pivotal factors. Fintech has the potential to reach underserved populations, providing access to banking services, but cybersecurity measures must be prioritized as the sector expands. Investing in local talent and fostering international collaboration, alongside continued investment, consumer education, and agile regulatory frameworks, will be essential for the Saudi fintech sector to flourish. Additionally, ongoing infrastructure development is crucial for seamless integration of fintech solutions